Caeneus believes that lithium brines, as opposed to hard rock, is the future for the metal as it costs circa half to produce than from hard rock pegmatites.

Because of its geology and hydrology Australia has little potential for lithium brines, whereas Nevada is already home to the Tesla Gigafactory and one of the world’s largest lithium producers – Albermarle Corporation LLC (NYSE:ALB).

Nevada has many rocks with high lithium contents including the Horse Spring Formation, McDermitt Caldera and a variety of igneous rocks.

The state has good, established infrastructure with power and transport passing close to each of the company’s projects.

Nevada has very low sovereign risk which positions it favourably compared to other major lithium producing jurisdictions such as Bolivia, Chile, Argentina and China.